business

cash

In its most basic meaning, cash is currency (paper money) and coin. The definition in a business context also includes checks, money orders, traveler's checks, cashier's checks, bank drafts, and receipts from credit card sales.

financial statements

income statement

A summary of a business's revenue and expenses for a specific period of time, such as a month or a year. Other terms used to describe the income statement are earnings statement, operating statement, statement of operations, and profit and loss statement.

shift in assets

sole proprietorship

statement of owner's equity

A summary of the changes that have occurred in owner's equity during a specific period of time, such as a month or a year. Another term used to describe the statement of owner's equity is capital statement.